The Seychelles is a good strategic location for business in Africa and is an Independent member of the British Commonwealth of Countries. The Seychelles is politically, economically and socially stable. Its Legal system is based on English common law and French civil code. Foreign-source income in the Seychelles is untaxed and there are no capital gains, gift, property or estate taxes. The financial services sector is reported to be the most rapidly growing sector of Seychelles’ economy, with the Seychelles seen internationally as an increasingly established and competitive jurisdiction for the domiciliation of International Business Companies.
Main Key Features-Seychelles Companies:
- A minimum of one Shareholder;
- Corporate Shareholders are allowed.
- No minimum paid–up capital requirements.
- Registered shares are permitted.
- Bearer shares are not permitted.
- Meetings of Shareholders can be held anywhere in the world and can be conducted by telephone.
- A minimum of one Director must be appointed.
- Corporations and natural persons may act as Directors.
- Meetings of Directors can be held anywhere in the world and can be conducted by telephone or other electronic means.
- Corporate Secretary is permitted.
- A local Registered Agent is required and must be named in the Memorandum.
- A company in good standing under the laws of another country can continue its existence as a Seychelles IBC.
- A Seychelles IBC in good standing can continue its existence under the laws of a foreign country provided the laws of the foreign country permit the inbound migration of companies.
- Low annual fees.
- Tax exempt.
- There is no statutory requirement for annual accounts to be prepared or audited. However, an IBC is required to keep such accounts as its Directors consider necessary to reflect the financial position of the company
- There is a statutory requirement to provide an annual return to the Registered Agent, stating that registers kept at the registered office are up to date and providing the location where accounting records are kept.
- Flexible legislation requires minimum of administration.